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SanDisk Corp., the world's largest maker of data-storage memory chips, posted higher-than-expected quarterly revenue today and said it expected price declines to "moderate" in the current quarter.

Shares of SanDisk, down about 22% this year, rose 6.2% to $27.50 following the results.

SanDisk said first-quarter net income was $17.9 million, or 8 cents per share, compared with a net loss of $575,000, or nil cents per share, a year earlier, when SanDisk had more than $20 million in acquisition-related costs.

Revenue rose to $850 million from $786.1 million amid strong demand for memory in consumer gadgets, exceeding analysts' average forecast of $812.2 million, according to Reuters Estimates.

In January, SanDisk had projected first-quarter revenue of $775 million to $875 million.

Excluding acquisition-related expenses and other items, SanDisk earned 21 cents per share, less than analysts' average projection of 27 cents per share, according to Reuters Estimates.

Chief Executive Eli Harari said the company expects price declines to "moderate" in the current quarter but cautioned that product profit margins are expected "to continue to be under pressure" as lower-cost chips will not be released until the second half.

The company said first-quarter sales were helped by its international business, by demand for its Sansa music players, and by mobile-phone and satellite-navigation device buyers.

SanDisk, based in Milpitas, Calif., in January gave a cautious outlook for the first quarter, citing falling prices and consumers' concerns about a slowing U.S. economy.